By this argument, it sounds as though you are saying that the rich are inherently better at allocating resources for the public good than anyone else. This is

By this argument, it sounds as though you are saying that the rich are inherently better at allocating resources for the public good than anyone else. This is an appeal to wealth fallacy. It's quite possible that the wealthy might have interests that diverge significantly from the common good and the overall wealth of society. Jared Diamond's 'collapse' makes a strong case for this having occurred numerous times in history.